NU Online News Service, Oct. 4, 2:38 p.m. EST
Hartford Financial Services and Chartis say they are cutting some employees.
Hartford spokesman Thomas Hambrick says it is “too early to tell how many positions will be affected” by the company's continuing efforts to streamline operations.
Hambrick says Hartford could not confirm reports that the insurer is looking to cut about 500 jobs over the next year and a half.
“We are determined to fundamentally transform the way The Hartford operates by creating a simpler, more efficient and flexible company,” Hambrick says in an email. “We have done a solid job over the last few years to significantly improve the financial strength of the company and to improve operations. We are confident there is additional opportunity for improvement.”
Though the company expects staff reductions of its 25,000 employees to be a part of these efforts, it will also continue to hire in growth areas and it will redeploy employees affected by reductions to these areas.
“This should reduce the total number of displaced employees,” Hambrick says.
At Chartis, American International Group Inc.'s property and casualty unit, about 1 percent of its 40,000 employees will be let go.
“As part of Chartis' review of its personnel needs, we have resized our staffing levels to reflect our business objectives,” says AIG spokesman Mark Herr in an email. “We continue to hire where we see the best potential for growth.”
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